Consumer
Whirlpool Cuts Earnings Forecast on Weak Appliance Sales
- US housing market recovery not likely in 2024, CEO says
- Inflation, election and interest rates are hurting confidence
Whirlpool Corp. dryers on display at an appliance store in Peru, Illinois.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
Whirlpool Corp., the owner of Maytag, lowered its full-year earnings forecast, as consumers continued to shy away from big-ticket appliance purchases amid a weakening housing market.
Adjusted earnings per share will be about $12 this year, the company said Wednesday, down from the $13 to $15 it had previously seen. Analysts had estimated $12.56, according to the average of projections compiled by Bloomberg. The company kept its full-year revenue estimate the same, at $16.9 billion.